Robert F. Kennedy Jr. Suspends Presidential Campaign, Plans to Back Trump in Bitcoin Bull Market – Decrypt

Robert F. Kennedy Jr.’s unlikely quest for the White House hit a pause on Friday when the independent presidential candidate announced a suspension of his campaign, pledging support to Donald Trump, another advocate for Bitcoin. However, RFK Jr. is not completely withdrawing from the race.

Kennedy revealed this decision in Phoenix, Arizona during an event intended to discuss “his path forward.” He expressed gratitude to his volunteers and supporters, hinting at the conclusion of his campaign. Instead of fully exiting the race, Kennedy clarified that he will only remove his name from swing states’ ballots to avoid potentially aiding Democratic candidate Kamala Harris.

“I want to clarify that I am not ending my campaign,” Kennedy stated. “I will still be listed on the ballot in most states.”

Arizona Secretary of State Adrian Fontes announced on Twitter (aka X) late Thursday that Kennedy had officially withdrawn from the 2024 race in the state.

Official paperwork

had been filed. The
Associated Press
reported ahead of Kennedy’s speech on Friday that his campaign had also filed to withdraw in Pennsylvania and endorsed Republican candidate Trump instead.

“I’m not ending my campaign, just pausing it,” he emphasized during the Arizona announcement. “Our surveys consistently indicated that by staying on the battleground states’ ballots, I would likely assist the Democrats, with whom I have fundamental disagreements.”

Kennedy cited concerns about free speech, the conflict in Ukraine, and the protection of children as reasons for departing from the Democratic Party, running as an independent, and now backing President Trump. He mentioned that Trump had expressed interest in involving him in his administration.

During his address, Kennedy also criticized “shadowy Democratic operatives” for obstructing his campaign, alleging that the Democratic National Committee waged legal battles against both himself and Trump.

“In the guise of safeguarding democracy, the Democratic Party is actually undermining it,” he added.

Kennedy extended his criticism to the media, addressing those present at the event.

RFK Jr. and Bitcoin

Kennedy was the first contender for president to openly advocate for Bitcoin, predating former President Donald Trump’s embrace of crypto by nearly a year. At a Bitcoin conference in Miami last year, Kennedy
characterized
Bitcoin as a defense against governments and corporations seeking to expand their power and intrude into everyday American life.

Following his keynote speech, Kennedy continued to integrate crypto into his presidential agenda. He proposed options like backing the dollar with a combination of Bitcoin and other “
hard currencies
,” or enhancing government expenditure transparency by placing “
the entire U.S. budget on blockchain
.”

Both Kennedy and Trump have made similar moves towards digital asset holders. At a recent Bitcoin conference in Nashville, Kennedy
proposed
establishing a strategic Bitcoin reserve, while the former president
suggested
a “strategic Bitcoin stockpile” the following day.

Kennedy’s backing of Trump could impact Vice President Kamala Harris, the Democratic presidential candidate.

Polling

conducted by NBC News before President
Joe Biden’s unexpected departure
from the race last month indicated Kennedy’s popularity with Republicans and lack thereof with Democrats.

In a recent conversation with podcaster Tom Bilyeu, Kennedy’s running mate Nicole Shanahan suggested that their campaign
prefers
Trump over Harris. She viewed the prospect of drawing votes away from Trump as a “risk,” while criticizing Democrats as anti-crypto.

“Elizabeth Warren embodies the push to regulate Bitcoin,” Shanahan stated. “The federal government must relinquish some of its long-held control over fiat currency.”

Trump will host a campaign event in Glendale, Arizona—a suburb of Phoenix—later on Friday afternoon, teasing a special guest.

Edited by Andrew Hayward